Do You Need A Property Mentor or Coach To Be Successful?

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Do you need a property mentor or property coach in order to be successful in property investing? If you don’t have a coach what can you do to improve your chances of success?
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0:00 – Introduction
0:40 – Did Ben have a property mentor in the beginning of his investment journey?
1:14 – You can’t just wait around for a mentor to magically appear
3:22 – Is it vital to have a mentor?
4:14 – Having online mentors that you never actually meet
6:09 – Personal development expands your mind, and that ultimately impacts your life
7:07 – There is so much online mentorship out there
8:21 – Tiny concepts that come out of online mentoring can make a major difference
9:44 – You don’t need physical people in your life for you to be able to achieve your goals
11:40 – Some people can benefit from one-on-one help from a buyer’s agent
13:27 – Why I prefer buyer’s agents over seminars or courses
14:31 – Don’t let tomorrow look the same as today
18:08 – What to do when all the dots aren’t connected
19:42 – You’ll never get it perfect first time around

Transcription:

Dean need a property mentor or a property coach in order to be successful in property. Both me and Ben have had contact with people this week that have mentioned that they feel isolated, that they don’t have mentors in their life and want to know how they can be successful without a mentor, how they can find one. And so we want us to talk today about whether or not you actually need one. And if you do want one, how to go about finding it. So, Hey, I’m Ryan from on-property, helping you achieve financial freedom. Today I’m joined by Ben Everingham buyer’s agent from pumped on property. How’s it going, Ben?

Awesome, man. Hey, doing. Yeah. Good. Now

you’re kind of in the unique position where I guess you do mentor a lot of people through your buyer’s agency, but what about you in the beginning? Did you have a property mentor in your life when you were getting started?

I didn’t. I kind of wish I did. Um, just because I wouldn’t have made as many of the mistakes that I’ve made now. Like, yeah, looking back, it would’ve been super helpful to have someone in my life that was exactly where I wanted to be, that had this strategy that I felt comfortable with and had, you know, that 10 15 years of experience that I didn’t have. Just the bounce ideas off and to help keep me focused.

Yeah. I think in an ideal world, having a mentor is Great, but I think the problem that people have is you can’t just wait around for a mentor to magically appear. Like, we’re not Cinderella here waiting for a fairy godmother to come in and save the day. I personally have never really had a mentor in my life, whether it be in property or be in online business. There’s not really one person who has kind of taken to me and helped me along the way. I’ve really had to find the way myself. And you said something really awesome off camera, which is something that you said to someone, which is they spent multiple years, I think it was five years procrastinating and not investing in property that because they didn’t take action that’s five years longer than they’re going to have to work before they achieve financial freedom. And so I guess to like kind of set up the frame for this conversation is having a mentor is Great, but if you’re just waiting around for a mentor and you’re waiting around for someone to tell you what to do, it’s very unlikely that you’re going to get anything done and achieve any level of success.

Yeah, like finding a mentor is actually quite an overwhelming thing to do. Um, which is why the same issue. I’ve never really had a direct mentor that I took everything from and just followed. What I’ve done is read lots of books, listened to lots of podcasts, gone to a lot of live events, a lot of different coaching and talk to a lot of different people. And then from that pulled little fragments out of it all. So that I had a clear strategy for myself. And then what I do have around me now, he’s kind of sounding boards or accountability partners that when I share an id, I’m not just vetting it on my own is one of their clients said like he felt like he was on his own and because he didn’t have that partner, it was almost like a cocoon of silence. Like it was his thoughts with his thoughts, with his thoughts.

Um, and so I always have those people like yourself and a few others that I can vet ideas that are going to tell me to tell me straight that it’s a bad idea or that are looking at things more three 60 and you know, picking up the things that I’m missing. Yeah. So do think it is vital to have a mentor. I don’t think it’s vital to have a mentor in my position now or yours, but I think it is really, really helpful to have somebody to bounce ideas off if you’re just getting started. Sort of anyone before property three. Um, you know, you can cut your teeth the hard way. Like I didn’t just sort of figure it out as you go and make mistakes or you can, you know, rapidly speed that up by looking at someone who’s already in that position and learning from them. So if I were starting again, man, I’d be definitely listened to people like us as well as some of the other great people online, but, and I might be treating them as my mentor because we’re sharing so much information these days where that wasn’t available 10 15 years ago. Um, I don’t think it’s necessary to take action, but I think it’s really, really important to have that sounding board and somebody to help you with strategy before you get started.

Yeah, and I think something interesting that you brought up, just the, is the idea of having online mentors. When people think of mentors, I think of one on one. You take someone out for coffee and you have to have a conversation with them, but you can have people that mentor you and your life that never actually meet you. They’re just mentor you through the content that you put out online. So we may be mentoring you through these videos that we put out. I definitely know in my life, a lot of the things that I try and do is kind of breaking new ground. There’s not many people that do the things that I do. So finding someone locally that is further ahead, that is where I want to be is just not really going to happen. And so what I like to do is to find people online who are where I’m at or who are doing things that I want to do.

And then I basically binge watch their content and the idea is not that I take everything from them, but I take what I need that’s going to help me get to where I need to go. So at the moment I’m looking at building up my business. Part of that is going to be hiring writers and things like that for a bunch of my website. So there’s one person I’m following online who teaches a lot about that particular thing. So I’m currently binge watching his content, pulling out ideas, taking notes and things like that, and then I’m getting enough from that that I’m then able to take action myself, able to implement it myself and to start growing myself so I don’t need to hire him to do one on one mentoring like I know he offers that so I could do that. That’s not the sort of mentor that I need or that I think people necessarily need. Yeah, you don’t need someone to hold your hand and tell you that it’s going to be okay. I feel you need to have the gumption to be able to do it yourself, but having mentors who have done it or have no who know more about it than you do and learning from them is definitely key.

I remember like 10 years ago saying to my wife at that time, because this was when I was, you know, my journey probably like a lot of people that are in business or investing doesn’t actually start with business or investing. It starts on the discovery that if I work on myself through personal development and those new ideas enter your brain that you don’t grow up with or the people that you’re not, that you’re hanging out with aren’t talking about, all of a sudden your mind starts to expand. And over time that expansion can’t not result in like physical results in your life. So I remember saying to my wife like 10 years ago that I felt like the five closest people to me and my world. Like literally I was believing this cause I was consuming so much of their content. We’re like literally the Tony Robbins, it like the Robert Kiyosaki’s, the Richard Bransons cause they were the people that always just digesting nonstop and spending 90% of my social time listening to it was crazy man.

And then use the bay for us. When we were coming into property, you would just have books and that would be your only way of really consuming property content would be books and the magazines, which were kind of like fluff articles. There was rarely any core substance to it compared to the podcast. And the videos that people put out today. And so I feel like there’s so much more out there today in terms of online mentorship than we ever had in the past. And people should be looking for that should be consuming, that should be finding moments in their day to learn from that sort of stuff and then just consume it via osmosis. I think that’s the wrong word, but just when I, when I attached myself to someone and to their content, I listen to so much of it that they’ll often repeat similar things over and over and over again. And they’re the things that really stick and the other things that are really important, and if people were to go back and binge watch the last 300 episodes there were, see we say the same things over and over and over again. And they are the most important things that you might not pull out from one piece of content. You might not pull it out from too, but you’ll pull it out over the course of those hundreds of episodes. Yeah,

me and that’s an interesting thing, man. When you talk about, you know, binge watching someone’s content and then plucking ideas from it. One of the biggest ideas, you know, that I think from a mentoring perspective or a coaching perspective or just you know, someone that you gravitate towards online is, you know, like those little ideas, right? Like these are ideas that I wish I had. You know, an idea around houses versus units like that single concept, which you might not discover on your own until it’s too late after you’ve bought a couple units. You know, that difference, the last 25 years in terms of that decision might have meant a 25 to 40% difference in your actual, you know, gross wealth right now a wealth as a result of just that one little decision to go a or B and similar little snippets like that that you pick up online.

Like should I buy metro or regional? Over the last 20 years across the seven major metro markets, we’re talking about a 96% difference in capital growth. So that’s where you know an online resource or a mentor comes in handy because if you don’t have those ideas, those two ideas of just cost you about 120% in 25 years and that is huge money that average partners are leaving on the table were drawing from other people’s experiences. You know, you can leap frog it rather than having to figure out that stuff like you and I both have.

Yup. And there’s so much out there. So I guess this is just a quick little video today to kind of inspire people out there that are feeling isolated, that are feeling like they don’t have the social support in their life. There’s not people around that they can talk to about this stuff that through doing this through, there are so many and there’s, you don’t just have to binge watch us. There’s so many other podcasts and other youtube channels and blogs and stuff out there as well that you can pull stuff from. You find who resonates best for you and by consuming that, you don’t need people in your life in order to be successful in property or whatever it is that you’re setting out to achieve. You don’t need personal friends that have done it. You don’t need some old rich dude to take you out for coffee, for you to be able to achieve your goals of financial freedom.

You can actually get that mentorship, get the ideas that you need, get enough to get you started so you’re not just going out on your own with absolutely no idea of what you’re doing, that you can collect a framework of how to invest and how to move towards financial freedom. So I guess we just want to encourage people that are feeling isolated and are feeling by themselves because we’ve obviously both experienced that to a massive degree. When you live lives like we do, there’s just not that many people around living the same life. So we definitely feel you and want to encourage you to not use that as an excuse to not take action. Don’t use that as an excuse to procrastinate and not be where you need to be because every day that you’re waiting to move towards financial freedom, every day that you’re not taking those steps is an extra day that you’re going to have to work into the future.

Yeah. Which is completely cool if you enjoy your work, but it is horrible if he died and I think there’d be more people listening to this that would choose to do something else if they had that choice than not.

Yeah, and I think the last thing it would probably would be silly not to talk about is the fact that some people can really benefit from one on one help. And that’s something that a buyer’s agent, whether you go with pumped on property or whether you go with another buyer’s agent, that’s something that a buyer’s agent can really help with. So for those of you who don’t know what a buyer’s agent is that someone that you pay to help you find an investment property that fit your criteria or moves you towards your goals, but generally that involves a pretty close relationship, right? Then like what’s the relationship like that you have with your clients?

Yeah, cause we take on such a small number of people, it’s very personal. Like I don’t necessarily see myself as a transactional buyers agent. Like a lot of others bizarre where they buy you the property and it’s all hands off. I see it as a full education so that next time around people can do it the right way. Having the foundation, understanding the rules and understanding the nuts and bolts of how the process works end to end. So they’ve got that confidence to take it over and take the reins themselves, which I think most people want to actually do. Like they want to be hands on, they want to get their hands dirty. Um, but you know, I got my hands dirty and, and lost a lot of money. Um, you know, and now I’ve got a process and some rules in place for the way that I invest. That saves me a lot of that heartache. And I think people can do it one way or the other, but most people aren’t going to go out there and by 10 past properties over a lifetime to learn all that stuff the hard way. So it can be much easier to just sort of get an education plus an outcome up front. And then from there, you know, once the confidence is up and once the system is up, you know, got down and smash it yourself from that.

And then you can replicate it yourself. And one of the things that I prefer, I’d done a video on this last year. I think the reason I prefer buyer’s agents over doing things like courses and seminars is that you pay a buyer’s agent to get a result, which is to purchase a property that’s going to move you towards your goals. And so you get the coaching along the way. You get that sort of stuff, but you also get a result of a property because that’s what you’re paying for. Whereas if you go to a seminar or you pay for some expensive online coaching course, then you may not then take the action or you may get overwhelmed by it. And so having someone there to hold your hand and to coach you through it is definitely going to help some people. It’s not for everyone and obviously it does cost money, but it’s definitely worth it for some people to get that one on one coaching, to get that kick up the bum to actually get the end result at the end of the day. And as you said, most people want to do it themselves, but to have someone coaching them along the way, someone who knows the process and those things that you’re just not aware of when you’re buying a property for the first time, to have someone there.

I think I think about it this way and lack of really sounded to connect with our clients again over the last year and really enjoying like being really hands on in my business again. And what I’m observing is it, I don’t know anybody that doesn’t want choices in their life and it doesn’t want financial freedom. Genuinely, the only thing stopping someone from achieving that stuff, he’s, you know, their knowledge thems, their knowledge and their skillset, the people in their life or you know, something inside which is probably the result of beliefs or values or conditioning from the past. And I want people to be aware of this fact that, you know, each day, each year that you don’t do something, whether it’s on your own or with some help is another day that tomorrow’s going to look the same way. And you know, I don’t know what it is about, you know, a lot of the people that we work with or you and I, but you know, there’s, there’s two types of people that do take action because you know, the pain of that short term action and there is some pain associated with it.

Overcoming all of that fear and overcoming all the challenges that we face. But you know, some people that can connect to that bigger picture and go, okay, the short term pain and maybe spending 50 hours over five months focusing on this, knowing that over the course of my lifetime that’s going to enable me to get financially free is like a really short trade off compared to going to work for 48 weeks, a year, 40 hours every single week for the next five years and ending up in a worse position because you couldn’t save your way there. And I just like the more I’m growing as a person and slowing down in own life, the more I’m realizing so many of us are just delaying what we’re inevitably going to get to you. Mozart is, you know, start a process of something. You know what I mean? Like what’s the point of delaying achieving everything that you ever wanted to achieve in your life?

Like I don’t, I don’t. I’m really finding it difficult to relate to that now because I’ve worked through so many of those things that you have as well. It’s just the pain of not taking action to me is so much worse than the pain of getting uncomfortable and actually doing some stuff, whether that’s starting a business or figuring out shares or figuring out a part time gig or figuring out property like there’s just such a strong reason for me to actually want to do that now. Yeah, I know if that made any sense at all. I sort of talked in a big circle

and I think it comes back to that idea that we talked about that each day that you weighed each year that you wait is just extending the time it’s going to take you to be financially free and to have the choices in your life that you want to have. And I guess we don’t want people waiting for a magical mentor to come around for them to take that action that we believe that you can take that action yourself, that you can educate yourself through online resources or you can work with a buyer’s agent if that’s what you choose to do, to take that action that we want to see. You take that action asap rather than waiting five years or 10 years till you finally feel confident enough to do it. We want to see you get confident today. Take those steps today. Maybe do it being a little bit scared, but actually achieving that result faster because the, you do it, especially if you’re positive cashflow and you’re paying off that debt.

You know the worst cash flow position you’re generally in is when you first purchased the property. If you buy a good property in a good area that’s going to grow. Um, you know, and it just gets better with time. So the early you can start the better and we want to see people start to take that action. Yeah. Like can I ask you a personal question man? Like you still get like scared or intimidated by the actions that you take, right? Like when you don’t always have the dots connected at the time that you need to be doing something. Yeah, definitely. Even the stuff that I’m doing right now, the dots aren’t all connected. There’s a whole bunch of faith involved in what I do. Faith, trial and error, stuff like that. But yeah, I just decided to take action and then adjust course as I learn more along the way.

My field exactly the same way, like you’re taking action as a human being terrifies me most of the time. And all of the old shit that we all have to work through is still there. It’s just not there anymore. It’s kind of like out there, which means I’ve got debt division and I think that’s something I want to communicate with people. Like the, the right mentor or the right coach is still going to be dealing with everything that you’re dealing with. Like paypal is still people and you know, don’t put people up on a pedestal. Like everyone’s going through their own stuff. It’s just some people are more comfortable going through the stuff and Scilla cheating where a lot of people sort of sit back and don’t go through the stuff and actually don’t achieve anything either. And I don’t think there’s anything worse than just sitting sideways for five 10 15 years and actually going, Holy Shit, I could be dead by now and I’ve, you know, wasted it.

Like all of that money that’s coming in is going somewhere. It might as well go into creating more income, at least in the short term. Yeah. And I think I’ve, I’ve gotten quite good at living with uncertainty and also gotten good at realizing that you never gonna get it perfect first time around. The first property that you buy is highly unlikely going to be the best property that you ever buy. And the same with business. The first things that you do, you’re going to do them poorly in the beginning, but just having faith that as you start to do it, that you will learn and that you will make better decisions along the way has really helped me to take the actions that I need to take to get me to where I want to go. And often sometimes that does lead you, you end up getting sidetracked or you make decisions that set you backwards but you’re learning along the way and taking action even though it’s not perfect your moving forward.

Whereas other people who are waiting until everything’s perfect to all their ducks in a row in a row until they know everything, those people probably aren’t going to do anything and probably won’t take any action at all. So we don’t want you guys to be those people. We want you to be out there to be taking action, to be firm in your goals, to be from in the action that you take, moving towards financial freedom in whatever way that looks like for you. And if you are one of those people that would like some more one on one help, you’ve binge watched everything already and you’re like, look, I want someone that can help me find a good suburb, find the right property that I can get the good cashflow from and the good growth as well. Then [inaudible] and the team over at pumped on property are offering free strategy session so you can jump on the phone to them, talk about your situation, where you’re at now, where you want to be, and they can really help you get clear on what you need to do to get there as well as the next steps you need to take.

So got on property.com dot a u if you’re interested in booking a strategy session, you can choose a time over there that suits you. Otherwise we wish you the best of luck in your property journey. Go out there, learn as much as you can. Take action and until next time, stay positive.